OCC Halts Fair Access Banking Rule
The rule would have prohibited US banks from denying services based on ideological factors.
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Brian Brooks finalized the controversial Fair Access to Banking rule in what could be his last act in office.
New regulation to be enacted in the UK could see Bitcoin exchanges and related services enjoy access to faster payments and considerably increase liquidity as the United States is also considering similar incentives in an attempt to foster emerging payment systems. Legislation published by the Payment Systems Regulator (PSR) requires that “pan GB operators” who are not already subject to specific access requirements to have “objective, risk based and publicly disclosed Access Requirements, which permit fair and open access.” Access to payment systems has been an issue, which has long....
The OCC is proposing a rule change that compels large U.S. banks to offer and provide fair access to financial services to anyone that wants them. The proposition seeks to clarify the obligation of large banks to provide fair access to financial services in a manner consistent with the Dodd-Frank Act’s mandate. Discrimination Against Disfavored Businesses The Dodd-Frank Act already recognizes a broad and longstanding anti-discrimination principle that individuals are entitled to be treated fairly by national banks. The Office of the Comptroller of the Currency’s (OCC) proposed....
If you happen to be in Stockholm, Sweden this, you may want to check out this Bitcoin event. Bitcoin Fun Fair is described as a “fun tech show, but, above all, a warm and delightful way to spend a weekend in February.” All sorts activities and items will be available, all of which can of course be paid for with Bitcoin. Food, music, and fashion, are some of the highlights of the Bitcoin Fun Fair. There are also things for kids to enjoy at the Fun Fair, such as Kid Hack Day. In an effort to help spread Bitcoin awareness, visitors will be required convert at least 100 SEK( Swedish Krona) to....
Indonesia is a country of nearly 240 million people. Unfortunately, many of its inhabitants lack access to traditional banking services. In fact, Perbanas, Indonesia's National Banking Association, considers the state of the banking industry "a failure" since more than half of the population has no access to banking. Perbanas chairman Sigit Pramono said, "The access to banking is far lower than telecommunication." Only 40% of the population has gained access to the banking industry while telecommunication has a 102% penetration (due to multiple SIM card ownership). Bitcoin might just be....